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Improved mood in Slovak economy

THE MOOD in the Slovak economy is continuing to improve. The economic sentiment indicator went up by 2.3 to 77.5 percentage points in October, on a monthly basis, according to the Statistics Office, the SITA newswire reported.

THE MOOD in the Slovak economy is continuing to improve. The economic sentiment indicator went up by 2.3 to 77.5 percentage points in October, on a monthly basis, according to the Statistics Office, the SITA newswire reported.

The indicator rose 1.8 points in September. Improved confidence in all sectors had a positive influence on the development of the indicator.

On the other hand, consumer confidence shrank. In annual terms, the economic sentiment indicator was 15.7 points lower and 22.9 percentage points below the long-term average.

The confidence indicator in industry rose from September by 3.6 to minus 8.7 percentage points. All measurements improved, particularly surging demand for industrial products and forecast production growth for the next three months.

In October, the consumer atmosphere indicator fell by six points to minus 30.3 points as a consequence of growing concerns about growth in unemployment and the expected development of Slovakia's economy. Compared with the previous quarter, the mood of consumers improved 1.9 percent. The value of the indicator improved by 13.6 points from six months earlier, but on an annual basis it was still 18.5 points down.

After the Agriculture Ministry lifted its embargo, it turned out that the companies of Italians suspected of ties with ’Ndrangheta received subsidies worth millions of euros, through the Agricultural Paying Agency.